OMERS ADMINISTRATION Corp Buys 363,735 Shares of Blue Owl Technology Finance Corp. $OTF

OMERS ADMINISTRATION Corp increased its stake in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) by 96.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 739,927 shares of the company’s stock after purchasing an additional 363,735 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Blue Owl Technology Finance were worth $9,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OTF. Orange County Employees Retirement System purchased a new stake in Blue Owl Technology Finance in the fourth quarter worth approximately $116,497,000. Capricorn Investment Group LLC purchased a new stake in Blue Owl Technology Finance during the 4th quarter valued at $78,915,000. Franklin Resources Inc. raised its stake in Blue Owl Technology Finance by 155,006.8% during the 4th quarter. Franklin Resources Inc. now owns 1,754,258 shares of the company’s stock valued at $25,507,000 after buying an additional 1,753,127 shares during the last quarter. Rivernorth Capital Management LLC lifted its holdings in shares of Blue Owl Technology Finance by 374.2% during the 4th quarter. Rivernorth Capital Management LLC now owns 1,934,726 shares of the company’s stock valued at $28,131,000 after buying an additional 1,526,695 shares during the period. Finally, Ares Management LLC lifted its holdings in shares of Blue Owl Technology Finance by 111.5% during the 4th quarter. Ares Management LLC now owns 1,140,168 shares of the company’s stock valued at $16,578,000 after buying an additional 601,104 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on OTF shares. Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Keefe, Bruyette & Woods reduced their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Tuesday, May 12th. Truist Financial lowered their target price on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Citizens Jmp dropped their target price on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada dropped their target price on Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.40.

Blue Owl Technology Finance Stock Up 0.3%

Shares of OTF opened at $9.97 on Monday. The business has a 50-day simple moving average of $10.63 and a two-hundred day simple moving average of $11.69. Blue Owl Technology Finance Corp. has a 52 week low of $9.78 and a 52 week high of $15.82. The stock has a market cap of $4.61 billion and a price-to-earnings ratio of 11.08.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). The company had revenue of $222.12 million for the quarter. Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. During the same quarter in the prior year, the firm posted $0.41 earnings per share. On average, equities analysts anticipate that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 14.0%. The ex-dividend date was Tuesday, June 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s dividend payout ratio (DPR) is 155.56%.

Insider Activity at Blue Owl Technology Finance

In other news, Director Melissa Weiler acquired 10,000 shares of Blue Owl Technology Finance stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the purchase, the director directly owned 10,000 shares in the company, valued at approximately $109,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Chris Temple acquired 7,000 shares of Blue Owl Technology Finance stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of $10.71 per share, with a total value of $74,970.00. Following the completion of the purchase, the director owned 12,000 shares of the company’s stock, valued at approximately $128,520. This represents a 140.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 18,000 shares of company stock worth $194,710 in the last ninety days. Insiders own 0.05% of the company’s stock.

Blue Owl Technology Finance Profile

Blue Owl Technology Finance (NYSE: OTF) is a publicly traded business development company (BDC) sponsored by alternative asset manager Blue Owl. The firm focuses on providing customized debt and structured capital solutions to technology and technology-enabled companies, with an emphasis on growth-stage and middle-market borrowers. As a BDC, its primary activities include originating, structuring and managing private credit investments tailored to the financing needs of fast-growing businesses.

Its investment approach typically centers on direct lending and credit-oriented products, including senior secured loans, unitranche and subordinated debt, as well as selective equity-linked instruments and structured financings.